Canopy Growth Corp.’s U.S.-listed stock rose 7% Monday after the Canadian cannabis company outlined its latest steps to enter the U.S. market while complying with Nasdaq listing requirements. The company said it has filed a revised proxy statement with the U.S. Securities and Exchange Commission updating its strategy to accelerate entry to the U.S. cannabis…
This article has been updated to correct the spelling of David Goubert’s name. Ayr Wellness Inc. is rallying for a second straight day on Wednesday after posting first-quarter results that included positive moves on its balance sheet, stronger-than-expected revenue and a 200-person reduction in head count. Ayr Wellness’s AYRWF, +16.88% stock is up 18% to…
Canadian pot producer Tilray Brands Inc. on Monday said it agreed to buy peer Hexo Corp. for $56 million in an all-stock deal — after years of losses, steep competition and stalled federal reform in the U.S. have weighed on the industry’s growth prospects. With weed prices falling in Canada, Hexo’s HEXO, +30.16% wrangling with…
Canopy Growth Corp. CGC, -2.84% stock fell 5% Thursday after the cannabis company reported a wider-than-expected loss and announced plans to reduce headcount by 800 positions as part of an effort to cut costs. Canopy Growth CEO David Klein said the changes were “difficult but necessary” to move toward profitability, as the company moves toward…
Falling prices for legal weed in the U.S. hung over third-quarter results of cannabis producers Curaleaf Holdings Inc. and Acreage Holdings Inc. on Monday, with both reporting a drag on financials in one way or another. Curaleaf CURLF, -3.43% executives, during the company’s earnings call Monday, said they were cutting hours in stores and cutting…
The Securities and Exchange Commission on Monday charged Canadian pot producer Cronos Group Inc. and a former executive with accounting fraud, accusing them of improperly booking sales and overstating revenue by millions of dollars. Cronos Group CRON, CRON, +0.75% and its former chief commerce officer — William Hilson, who left the company at the end…
President Joe Biden on Thursday said he will pardon all prior federal offenses of simple possession of marijuana, and asked U.S. agencies to review how the drug is classified. “There are thousands of people who have prior federal convictions for marijuana possession, who may be denied employment, housing, or educational opportunities as a result,” Biden…